Dominari Holdings Inc. has recently transitioned from its original focus on cancer research to engaging in significant investments in Bitcoin. This notable shift has garnered attention, as it merges traditional financial practices with the dynamic and often unpredictable realm of virtual assets within one of Manhattan’s most prestigious landmarks.
Dominari Shifts From Biotech to Bitcoin
Once focused on developing cancer therapies, Dominari Holdings has reinvented itself as a financial player. Located on the 22nd floor of Trump Tower in New York City, the holding company now specializes in wealth management, investment banking, and asset management. It underwrites penny stocks, many tied to companies in Hong Kong and China, and has ventured into AI and data centers through its stake in American Data Centers.
Despite experiencing losses of approximately $70 million following its strategic pivot three years ago, Dominari demonstrates a robust financial profile characterized by a current ratio of 5.92 and an impressive revenue growth of 790% over the past year.
However, the company’s history is not without challenges; a senior executive was previously associated with practices resembling those seen in “Boiler Room” operations at a former organization, although the matter was resolved amicably. Brett Maas, the bank’s spokesperson, reaffirms Dominari’s commitment to long-term growth, emphasizing that there are no advisers liquidating shares at this time.
A Crypto Vault in Trump Tower
Dominari’s boldest move is its growing Bitcoin stash, stored securely in what is rumored to be a high-tech vault within Trump Tower. While exact figures on its holdings remain undisclosed, the bank is actively accumulating digital assets, following a strategy promoted by firms like Strategy.
This pivot aligns with Dominari’s involvement in American Bitcoin, a crypto mining venture aiming to be the world’s largest and most efficient Bitcoin miner. The bank owns a significant stake in this project, which is set to go public via a merger with Gryphon Digital Mining.
Dominari’s Bitcoin initiative extends beyond mere financial interests; it is strongly linked to the Trump family. Eric Trump serves as an advisor and chief strategy officer for American Bitcoin, maintaining significant connections to the bank’s operations.
With President Trump advocating for a pro-crypto agenda, which includes the establishment of a strategic Bitcoin reserve, Dominari’s activities within Trump Tower raise important questions regarding potential conflicts of interest, highlighting the complex interplay between business, politics, and digital assets.
